Newswise — ALEXANDRIA, VA - The American Medical Group Association (AMGA) today announced findings from its 2015 Medical Group Compensation and Productivity Survey, conducted by its consulting arm, AMGA Consulting Services. Findings show that 75 percent of physician specialties experienced increases in compensation. The overall weighted average increase in 2014 compensation was 2.8 percent, similar to 2.9 percent from 2012 to 2013.
• Primary care specialists saw a decrease of 0.3 percent, down from an increase of 3.8 percent in 2013 (weighted average). • Other medical specialties saw an average increase of 3.2 percent, up from 1.8 percent in 2013. • Surgical specialties saw an average increase of 2.0 percent, down from 3.0 percent in 2013.
Specialties experiencing the largest increases in compensation in 2014 were Hematology and Medical Oncology (10.8%), Pulmonary Disease (without Critical Care) (10.4%), Dermatology (8.3%), Cardiology – Cath Lab (Invasive Interventional) (8.1%), Gastroenterology (7.4%), and Hypertension and Nephrology (7%). “Physician compensation in general has remained pretty flat for the past few years, with an average increase below 3.0 percent,” said Donald W. Fisher, Ph.D., CAE, AMGA president and chief executive officer. “We’ve seen peaks in certain specialties, and dips in others, and much of this reflects the cyclical nature of healthcare economics. However, with the movement to value-based incentives for care, the delivery model is changing to a more team-based approach, which has always been the hallmark of AMGA member medical groups. To help our members address this shift, this year’s survey features expanded data on nurse practitioner and physician assistant compensation and productivity. It will be interesting to watch compensation trends over the next few years as these value-based models become more prevalent.”
“Compensation plans should be designed to support specific strategy, goals, and desired outcomes of an organization,” said Tom Dobosenski, CPA, AMGA Consulting Services president. “One basic tenet of any compensation system is that it allows an organization to successfully recruit and retain talent necessary to carry out the work of the organization. In order to do so, most AMGA member organizations believe that physician compensation systems must offer the opportunity for physicians to earn market rates of compensation for market rates of effort or output. The AMGA 2015 Medical Group Compensation and Productivity Survey is a tool our members use to evaluate whether their plans are market-based by comparing their performance to others. To make that evaluation easier for medical groups, this year in addition to the full survey report, AMGA provided to all participating organizations a free custom report that shows how their organization compares to the summary data of the total participants, participants in their region, and participants of similar size.”
The AMGA 2015 Medical Group Compensation and Productivity Survey presents data for 134 physician specialties and 27 other provider specialties, with breakdowns by region and group size (group size assigned by physician FTE). Data represent responses from 251 medical groups, representing more than 73,000 providers. The survey provides data on compensation, net collections, work RVUs, and compensation-to-productivity ratios. Other data include panel sizes, gross productivity, fringe benefits and benefits expense-to-compensation ratios, patient visits, compensation for experienced new hires and new residents or fellows, compensation and productivity for academic facilities, and compensation and productivity for nurse practitioner and physician assistant subspecialties.
About AMGAThe American Medical Group Association is a 501(c)(6) trade association representing medical groups, health systems, and other organized systems of care, including some of the nation's largest, most prestigious integrated delivery systems. AMGA is a leading voice in advocating for efficient, team-based, and accountable care. AMGA members encompass all models of organized systems of care in the healthcare industry, including: physician-owned, independent group practices, integrated delivery systems, hospital-affiliated medical groups, independent practice associations (IPAs), academic and faculty practices, accountable care organizations, and high-performing health systems. More than 170,000 physicians practice in AMGA member organizations, providing healthcare services for 120 million patients (one in three Americans). Headquartered in Alexandria, Virginia, AMGA is the strategic partner for these organizations, providing a comprehensive package of benefits, including political advocacy, educational and networking programs, publications, benchmarking data services, and financial and operations assistance. www.amga.org
About AMGA Consulting ServicesAMGA Consulting Services, LLC, assists healthcare organizations in navigating the changing industry environment. AMGA Consulting Services assists clients build their organizational capabilities through effective governance, operational improvement, strategic alignment, talent management, and total rewards solutions. www.amgaconsulting.com
Limited copies of the survey are available for working press. For press copies, contact Tom Flatt at [email protected]. Surveys are also available for purchase for $375 to AMGA members and $750 to non-members. To order, visit www.amga.org or contact AMGA at (703) 838-0033, ext. 362 or [email protected]. Survey data is also available in a subscription-based, interactive, online database. For details, contact [email protected] or visit www.amga.org.
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